Tom Rasta engaged in the following activities in establishing his photography studio, Picture This! Indicate the accounts

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Tom Rasta engaged in the following activities in establishing his photography studio, Picture This! Indicate the accounts to be debited and credited for each transaction.
1. Opened a bank account in the name of Picture This! and deposited $6,300 of his own money into this account as his initial investment.

2. Purchased photography supplies at a total cost of $1,100. The business paid $400 in cash and the balance is on account.
3. Obtained estimates on the cost of photography equipment from three different manufacturers.

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Related Book For  answer-question

College Accounting

ISBN: 1986

1st Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell

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